In Germany, as a result of Signal Iduna affiliating itself to the PAYBACK coalition loyalty scheme, consumers who take out a health insurance policy provided by the insurer are now able to collect bonus points from PAYBACK which they can redeem for vouchers and other benefits at participating organisations. Signal Iduna stated that the initiative is meant not only to enhance customer loyalty but also to enhance the insurer’s brand name recognition. PAYBACK is Germany’s largest coalition loyalty scheme with €150 million worth of bonus points collected in 2008 of which 90% were redeemed by customers.
